An Elderly Person.

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An Elderly Person.

An Elderly Person.

@Phil_Gr8ness

Husband. Father. Engineer. I use the word {probably} a lot cos that's my job. You're probably wrong. Opinions = mine

Accra, Ghana Katılım Eylül 2013
347 Takip Edilen1K Takipçiler
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Desmond Bredu
Desmond Bredu@DesmondBredu·
Beautifully written. The writing felt “like movie scenes and I could picture every single line.” Best part, I felt I was in it throughout … Well done @_edemkojo
Edem Kojo, MASSCI 🤝@_edemkojo

A routine CalBank share sale in 2008 led to a market crash days later and 18 years of court battles between Daniel Ofori and Ecobank. Here is the story of Ghana’s most dramatic financial legal dispute, DANIEL OFORI V ECOBANK & 3 OTHERS: open.substack.com/pub/theaccraan…

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Francis
Francis@Fran_ADK·
@Phil_Gr8ness That was what I was discussing with colleague. Just insane.
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An Elderly Person.
An Elderly Person.@Phil_Gr8ness·
Who signed off on 30% interest? 1
Hamdaway@HamdawaySayibu

Many people are hearing about the Daniel Ofori vs Ecobank case, but don’t fully understand how the whole issue started and how it ended. Here’s the simple breakdown from the beginning to today: In 2008, Ghanaian businessman Daniel Ofori sold about 14.3 million CAL Bank shares to another businessman, William Oppong-Bio. The transaction was handled through Databank Brokerage while Ecobank Ghana acted as the settlement/payment bank. The shares were worth about GH¢13.7 million. According to Daniel Ofori, after the shares had already been transferred, Ecobank failed to complete payment after the Bank of Ghana and SEC raised concerns about the transaction. Part of the money, about GH¢6.16 million, was then allegedly placed into an investment arrangement with Ecobank at an agreed interest rate of 30%. This is where the real issue began. Daniel Ofori later sued Ecobank, arguing that: 1. The shares had already been sold and transferred 2. Therefore he deserved payment 3. Ecobank also owed him the agreed investment interest Ecobank fought the case for years, arguing that: - the transaction became problematic after regulatory intervention - there were inconsistencies in the documents - and Daniel Ofori was still receiving dividends on the shares after supposedly selling them One major question people asked was: “If he sold the shares, why was he still receiving dividends?” Ecobank used this point to challenge the entire claim and later even alleged document alteration and fraud. But the courts repeatedly ruled in Daniel Ofori’s favour. The biggest turning point came in 2018 when the Supreme Court ruled that Daniel Ofori was entitled to the money and the agreed 30% interest. After that, another battle started: How should the interest be calculated? Simple interest? Yearly compound interest? Or monthly compound interest? That calculation changed everything. Because when 30% interest compounds over many years, the amount becomes extremely huge. Ecobank kept challenging the judgment and tried several legal attempts to overturn or reduce the amount. But in 2026, the Supreme Court finally upheld the earlier rulings and confirmed that Daniel Ofori was entitled to the compounded interest. This officially ended one of Ghana’s biggest and longest commercial court battles. Charley this case will probably be studied in Ghana’s banking and legal sectors for many years 😁 Follow for more @HamdawaySayibu

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An Elderly Person.
An Elderly Person.@Phil_Gr8ness·
At that level of wealth, what he dey take do? Not equity cos it's barely significant. And he can afford the best of hotels for when he's out of Nigeria. 😂
Naija@Naija_PR

Africa's richest man, Aliko Dangote, has revealed that he does not own a single house outside Nigeria. Speaking at a recent media parley, Dangote explained that he prefers staying in hotels abroad to avoid the "distractions" and maintenance costs of owning foreign mansions, allowing him to focus entirely on industrializing Nigeria. ​He clarified that his only personal homes are in Lagos and Kano, while he stays in a rented apartment whenever he is in Abuja.

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An Elderly Person.
An Elderly Person.@Phil_Gr8ness·
Engineering is truly beautiful chale
Tycho de Feijter@TychodeFeijter

Aito M9 can lift one wheel and drive on 3 One-wheel lift systems are a new trend in China. Li Auto and Fangcheng Bao have it, and today we have a clip of the Aito M9. It has an "800V fully active suspension system" that can independently lift any wheel. It works with two sets of shock absorbers, closed dual-chamber dual-valve air springs + adjustable damping. The Aito M9 also has all-wheel steering and all-wheel drive. Why cars need a one-wheel lift system isn't immediately clear. Some automakers say you can change a wheel without needing a jack - sure, but most new cars don't have spare tires anymore. I guess the why doesn't really matter. It is cool, it is new, so every car maker in China will have it on their cars very soon.

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An Elderly Person.
An Elderly Person.@Phil_Gr8ness·
I know 2010 - 2014 was characterised by some truly unsanitary and reckless tweets but bruh... That was your whole flow?
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